Concentrix (NASDAQ:CNXC) Releases Quarterly Earnings Results, Beats Estimates By $0.25 EPS

Concentrix (NASDAQ:CNXC) released its quarterly earnings results on Wednesday. The company reported $3.26 EPS for the quarter, beating analysts’ consensus estimates of $3.01 by $0.25, Briefing.com reports. The business had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.44 billion. Concentrix had a return on equity of 16.57% and a net margin of 2.18%. Concentrix’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.36 EPS.

Concentrix Stock Up 2.1 %

Shares of NASDAQ CNXC opened at $47.47 on Thursday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.57 and a quick ratio of 1.57. The stock has a market capitalization of $3.08 billion, a PE ratio of 15.41, a P/E/G ratio of 0.60 and a beta of 0.63. Concentrix has a one year low of $36.28 and a one year high of $106.10. The business’s fifty day moving average price is $43.25 and its 200-day moving average price is $55.04.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Canaccord Genuity Group decreased their price objective on shares of Concentrix from $125.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, September 26th. Bank of America dropped their price target on Concentrix from $85.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday, September 26th. Baird R W upgraded Concentrix to a “strong-buy” rating in a research note on Thursday, October 3rd. Barrington Research lowered their target price on Concentrix from $84.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, September 26th. Finally, Robert W. Baird began coverage on shares of Concentrix in a research report on Thursday, October 3rd. They set an “outperform” rating and a $70.00 price target for the company. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $79.00.

About Concentrix

Concentrix Corporation engages in the provision of technology-infused customer experience (CX) solutions worldwide. The company provides CX process optimization, technology innovation, front- and back-office automation, analytics, and business transformation services, across various channels of communication, such as voice, chat, email, social media, asynchronous messaging, and custom applications.